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Pursuit of the Unforgettable
How Current Travel Trends Are Driven by Live Events
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Entertainment has become a driving force behind current travel trends. From once-in-a-lifetime events like solar eclipses to massive concerts and major sporting fixtures, people are ready to travel and spend for unforgettable experiences.
Even with ongoing inflation concerns and tighter budgets for consumers, when it comes to travel, people can be seen extending their trips, often adding an extra day compared to 2019 duration averages. According to a May report by Deloitte, U.S. consumers are projected to spend 6% to 13% more on travel year-over-year. They’re not just traveling—they’re investing in experiences that make their trips truly memorable.
According to an EMARKETER report, 67% of millennials and Gen Z plan to travel for sports this year. Sports tourism is a $52.2B industry, after all. With New York teams like the Yankees, Mets, Knicks, and Rangers enjoying remarkable recent seasons, and with events like the World Cup on the horizon, the NYDMA is sure to remain a top destination to bolster that industry.
What does this mean for advertisers?
First off, positioning around these big moments in entertainment can lift many boats. Fans desire immersive experiences, and leveraging digital out of home to highlight your brand and related content is a great way to stay relevant and make an impact. Situation hopped on the Eras train this year to great success as we positioned ALADDIN and THE LION KING in front of Broadway’s core live-event audience with billboards along the highway and at MetLife Stadium, seizing on this significant cultural moment
With those in-market willing to stay longer and spend more, consider amping up your out of home presence to leverage their excitement from one event to another.
According to a recent T-Mobile Out-of-Home Forecast, considerable growth is projected in the out of home space due to increased digital screens, programmatic buying, and the ability for integration with other digital media. It’s unskippable, and the integration of elements like QR codes and dynamic creative has helped it become more flexible, precise, and trackable.
Influencers and individual messaging increase impact
Don’t lose sight of leveraging word of mouth either. The same EMARKETER report indicated that 22% of millennials and 26% of Gen Z say they have spent money they don’t have on travel after being influenced on social media. They’re still looking for deals and traveling at off-peak times, but will loosen their purse strings for the right event. Integrating influencer campaigns throughout the entire funnel is a great way to make an impression and convert.
Also, think personalization – both in ads and on-site experiences – making customers feel valued and catered to. Integrating messaging around premium upgrades, add-ons, or exclusive packages can help brands tap into travelers’ desires to make these experiences memorable. Focusing your creative to their interests and behaviors via targeted tactics can enhance engagement and conversions.
As consumers travel longer, spend more, and center their trips around major events, now is the time to position your brand at the heart of these experiences. From sports to concerts, entertainment is the key to unlocking travel dollars.
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